Picture of Thruvision logo

THRU Thruvision News Story

0.000.00%
gb flag iconLast trade - 00:00
TechnologyAdventurousMicro CapNeutral

REG - Thruvision Group PLC - Award of Share Options to Executive Directors




 



RNS Number : 0241Q
Thruvision Group PLC
16 June 2020
 

 

16 June 2020

Thruvision Group plc

 

 

Award of Share Options to Executive Directors

 

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of safe distance people-screening technology to the international security market, announces that on 15 June 2020, Colin Evans (Chief Executive) and Adrian Crockett (Finance Director) were awarded options under the Company Long Term Incentive Plan ("LTIP").

On 15 June 2020 the following awards over ordinary shares of 1 pence in Thruvision Group plc were granted under the Thruvision Group plc Long Term Incentive Plan to the Executive Directors detailed below.

Name

Type of option award

No of shares awarded              

Exercise price on award

Market Value on award

Date of vesting

Colin Evans

Unapproved

800,000

£0.20

£160,000

15 June 2023

Adrian Crockett

EMI - Tax approved

250,000

£0.20

£50,000

15 June 2023

The awards were granted pursuant to separate Award Agreements entered into between Thruvision Group plc and each Executive Director noted in the table above.

Each award (regardless of whether it was granted as an EMI award or a non-tax advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with the Thruvision group and will remain exercisable at any point up until the tenth anniversary of the date of grant.

In normal circumstances the Performance Conditions on which the vesting of the awards would depend, would be set on the date of award. However, given the Covid-19 pandemic, it has been agreed that the Performance Conditions will be agreed later this year and no later than 31 December 2020, once the impact of the pandemic on the trading performance of the Company is better understood.

In total 2,310,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 12 employees on 15 June 2020.

The notification in appendix 1 to this announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

 

For further information please contact:

 

Thruvision Group plc                                                                     +44 (0)1235 436180

Tom Black, Executive Chairman

Colin Evans, Chief Executive

 

Investec Bank plc                                                                             +44 (0)20 7597 5970

James Rudd / Sebastian Lawrence / Patrick Robb

 

FTI Consulting LLP                                                                           +44 (0)20 3727 1000

Matt Dixon / Shamma Kelly

 

 

 

About Thruvision

Thruvision is the leading provider of safe distance people-screening technology. Using patented passive terahertz technology, Thruvision is uniquely capable of detecting metallic and non-metallic threats including weapons, explosives and contraband items that are hidden under clothing, at distances between 3 and 10m. Addressing the growing need for fast, safe and effective security, Thruvision completely removes the need for physical "pat-downs" and has been vetted and approved by the US Transportation Security Administration for surface transportation. Operationally deployed in 20 countries around the world, Thruvision is used for aviation and transportation security, retail supply chain loss prevention, facilities and public area protection and customs and border control. The company has offices near Oxford and Washington DC.

 

 

www.thruvision.com 

 

 

Appendix 1

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Colin Evans

2.

Reason for the notification

(a)

Position/status

Chief Executive

(b)

Initial notification/ Amendment

Initial notification

 

3.

Details of the issuer

(a)

Name

Thruvision Group plc

(b)

LEI

213800IZG9GM6G2TZE04

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

(a)

Description of the Financial Instrument

Ordinary shares of £0.01 each in Thruvision Group plc

(b)

Identification code of the Financial Instrument

GB00B627R876

 

(c)

Nature of the transaction

Entry into an Award Agreement pursuant to which a non-tax advantaged option award over 800,000 Ordinary Shares of 1 pence each in Thruvision Group plc. 

The award was granted with an option price of £0.20 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service and satisfaction of the Performance Condition, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.

(d)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

nil

800,000

 

 

 

(e)

Aggregated information

-              Aggregated volume

-              Price

N/A

 

 

 

(f)

Date of the transaction

15 June 2020

(g)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Adrian Crockett

2.

Reason for the notification

(a)

Position/status

Finance Director

(b)

Initial notification/ Amendment

Initial notification

 

3.

Details of the issuer

(a)

Name

Thruvision Group plc

(b)

LEI

213800IZG9GM6G2TZE04

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

(a)

Description of the Financial Instrument

Ordinary shares of £0.01 each in Thruvision Group plc

(b)

Identification code of the Financial Instrument

GB00B627R876

 

(c)

Nature of the transaction

Entry into an Award Agreement pursuant to which a tax advantaged Enterprise Management Incentive Award was granted over 250,000 Ordinary Shares of 1pence each in Thruvision Group plc.

The award was granted with an option price of £0.20 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service and satisfaction of the Performance Condition, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.

(d)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

nil

250,000

 

 

 

(e)

Aggregated information

-              Aggregated volume

-              Price

N/A

 

 

 

(f)

Date of the transaction

15 June 2020

(g)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHQELFFBQLLBBE

Recent news on Thruvision

See all news